Stock Analysis on Net
AI Tokens
Stock Analysis on Net

Humana Inc. (NYSE:HUM)

This company has been moved to the archive! The financial data has not been updated since October 30, 2024.

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

Humana Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Benefits payable 22.25 22.85 23.42 21.76 18.24 18.25 18.29 21.52 18.20 20.61 20.25 18.69 19.32 22.29 23.12 23.29 21.33 20.75 20.47 20.65 21.32 20.21 21.25
Trade accounts payable and accrued expenses 11.83 13.03 12.98 13.96 13.59 14.38 13.57 12.17 13.33 12.36 12.65 10.17 10.94 12.87 12.77 11.48 11.62 16.06 15.59 12.91 12.47 13.25 13.12
Book overdraft 0.71 0.71 0.66 0.75 0.44 0.81 0.74 0.69 0.47 0.84 0.68 0.73 0.53 0.62 0.92 0.92 0.56 0.81 0.49 0.77 0.94 0.71 0.54
Unearned revenues 0.39 0.62 0.60 0.57 13.48 13.07 13.18 0.66 11.84 0.56 0.62 0.57 0.61 0.85 0.87 0.91 0.75 0.69 0.79 0.85 0.94 1.08 1.10
Short-term debt 2.27 2.29 1.64 3.07 4.02 3.58 3.41 4.86 5.51 3.29 3.65 4.40 1.75 2.91 3.22 1.72 4.48 4.48 5.48 2.40 2.40 4.67 6.06
Current liabilities held-for-sale 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.44 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Current liabilities 37.45% 39.51% 39.31% 40.10% 49.77% 50.09% 49.19% 39.90% 49.35% 38.10% 37.86% 34.56% 33.16% 39.54% 40.89% 38.30% 38.74% 42.79% 42.82% 37.59% 38.06% 39.91% 42.07%
Long-term debt 23.77 23.45 24.73 21.70 16.96 17.22 17.79 20.98 15.36 24.11 24.37 23.76 25.30 15.93 16.20 17.33 15.75 15.75 17.49 17.08 18.39 15.14 15.44
Other long-term liabilities 3.54 3.65 3.65 3.53 2.85 2.77 2.66 3.42 3.15 4.07 4.64 5.37 5.62 5.55 4.98 5.11 4.54 3.97 4.02 3.92 3.80 3.89 4.25
Long-term liabilities held-for-sale 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.59 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-term liabilities 27.31% 27.10% 28.38% 25.23% 19.82% 19.99% 20.45% 24.40% 18.51% 28.77% 29.01% 29.14% 30.92% 21.48% 21.18% 22.44% 20.28% 19.72% 21.51% 21.01% 22.18% 19.03% 19.69%
Total liabilities 64.76% 66.61% 67.69% 65.33% 69.58% 70.08% 69.63% 64.30% 67.86% 66.87% 66.87% 63.70% 64.07% 61.01% 62.07% 60.74% 59.02% 62.51% 64.33% 58.60% 60.24% 58.94% 61.76%
Preferred stock, $1 par; none issued 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Common stock, $0.16 2/3 par 0.07 0.07 0.07 0.07 0.06 0.06 0.06 0.08 0.07 0.07 0.07 0.07 0.07 0.09 0.09 0.09 0.09 0.09 0.10 0.11 0.11 0.11 0.12
Capital in excess of par value 6.94 6.83 6.73 7.11 6.01 5.87 5.96 7.54 6.37 6.73 6.70 6.95 6.76 7.93 7.25 7.74 7.64 7.54 8.25 9.70 8.94 9.56 9.60
Retained earnings 58.23 57.38 56.24 58.51 50.43 48.65 48.60 59.21 50.44 52.35 51.64 52.04 51.17 57.13 56.80 58.67 54.25 51.01 51.60 60.13 58.41 56.82 54.90
Accumulated other comprehensive income (loss) -1.31 -2.24 -2.17 -2.12 -2.69 -2.17 -2.03 -3.03 -2.89 -2.24 -1.24 0.09 0.32 0.57 0.29 1.12 0.96 0.82 0.14 0.54 0.61 0.39 -0.04
Treasury stock, at cost -28.80 -28.76 -28.67 -29.02 -23.49 -22.59 -22.32 -28.23 -21.97 -23.83 -24.10 -22.91 -22.45 -26.73 -26.50 -28.36 -21.95 -21.97 -24.41 -29.08 -28.31 -25.82 -26.34
Stockholders’ equity 35.13% 33.28% 32.20% 34.55% 30.32% 29.82% 30.26% 35.56% 32.02% 33.08% 33.08% 36.25% 35.88% 38.99% 37.93% 39.26% 40.98% 37.49% 35.67% 41.40% 39.76% 41.06% 38.24%
Noncontrolling interests 0.12 0.11 0.11 0.12 0.10 0.10 0.10 0.14 0.12 0.04 0.05 0.05 0.05 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total equity 35.24% 33.39% 32.31% 34.67% 30.42% 29.92% 30.37% 35.70% 32.14% 33.13% 33.13% 36.30% 35.93% 38.99% 37.93% 39.26% 40.98% 37.49% 35.67% 41.40% 39.76% 41.06% 38.24%
Total liabilities and equity 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

The capital structure exhibits a long-term trend toward increased leverage, with total liabilities generally rising from approximately 60% of the total balance sheet in 2019 to a range between 64% and 70% in the later periods. Conversely, total equity has experienced a gradual contraction, moving from peaks above 41% in 2019 to a lower baseline oscillating between 30% and 35% from 2022 through 2024.

Current Liability Trends
Benefits payable remains a primary driver of short-term obligations, consistently representing between 18% and 23% of total liabilities and equity. Trade accounts payable and accrued expenses have remained relatively stable, generally fluctuating between 10% and 15%. A notable anomaly is observed in unearned revenues, which historically remained below 1% but experienced significant spikes between September 2022 and September 2023, peaking at 13.48% before returning to sub-1% levels by December 2023.
Long-term Debt and Obligations
Long-term debt has shown a marked increase in its proportion of the total balance sheet. While it averaged approximately 15% to 17% between 2019 and 2020, it shifted upward to a range of 23% to 25% in several quarters between 2021 and 2024. This suggests a strategic shift toward long-term borrowing to fund operations or growth. Other long-term liabilities have remained comparatively minimal and stable, generally staying below 6%.
Equity Composition and Treasury Activity
Retained earnings constitute the largest positive component of equity, though they have fluctuated from highs of 60% in 2019 to lows near 48% in 2023, before recovering to 58.23% by September 2024. This volatility is offset by significant treasury stock activity; the negative impact of treasury stock on the balance sheet is substantial and persistent, consistently ranging from -21% to -29%, indicating an aggressive share repurchase strategy. Additionally, accumulated other comprehensive income transitioned from positive values in 2019-2021 to consistently negative values starting in March 2022, averaging between -1% and -3% through September 2024.

The overall trajectory indicates a balance sheet that is more heavily reliant on debt and external financing than in previous years, characterized by a significant reduction in the equity cushion and an increased weight of long-term debt obligations.

AI Ask an analyst for more

My previous chats

Add tokens

Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
Without a user account, I tend to respond rather slowly.

How can I help you?